GE (GE) Beats Bottom-Line Q4 Views on Stronger Orders; Light Revs Give Investors Pause
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Price: $348.89 +1.23%
Financial Fact:
GECS revenues from services: 2.57B
Today's EPS Names:
BTTX, VAXX, ELYS, More
Financial Fact:
GECS revenues from services: 2.57B
Today's EPS Names:
BTTX, VAXX, ELYS, More
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General Electric Co. (NYSE: GE) shares are trading lower Friday following fourth-quarter numbers which were mixed.
Revenue fell 7.9 percent from $41.225 billion during the fourth quarter of 2010 to $37.973 billion. GE itself saw a 5 percent decline in revs, while GE Capital Services revs dropped 9 percent in the quarter. NBCU contributed $212 million in revs during the quarter.
Total net income for GE dropped 18 percent to $3.730 billion, or 35 cents per diluted share. Excluding non-operating pension costs, operating earnings were 39 cents per share for the period.
The numbers were mixed to Street expectations calling for revs of $40.03 billion and earnings of 38 cents per share.
Infrastructure orders are up 15 percent to $28.6 billion.
"We are confident in our 2012 framework to realize double-digit earnings growth in our Industrial and Capital segments, increase margins and provide dividend growth to our shareholders in line with earnings," commented CEO Jeffrey Immelt. "We expect continued volatility in 2012 and have prepared for it by investing in new products and technology, expanding our growth market footprint and taking important steps to strengthen risk management."
Shares of GE are off about 1.5 percent Friday.
Revenue fell 7.9 percent from $41.225 billion during the fourth quarter of 2010 to $37.973 billion. GE itself saw a 5 percent decline in revs, while GE Capital Services revs dropped 9 percent in the quarter. NBCU contributed $212 million in revs during the quarter.
Total net income for GE dropped 18 percent to $3.730 billion, or 35 cents per diluted share. Excluding non-operating pension costs, operating earnings were 39 cents per share for the period.
The numbers were mixed to Street expectations calling for revs of $40.03 billion and earnings of 38 cents per share.
Infrastructure orders are up 15 percent to $28.6 billion.
"We are confident in our 2012 framework to realize double-digit earnings growth in our Industrial and Capital segments, increase margins and provide dividend growth to our shareholders in line with earnings," commented CEO Jeffrey Immelt. "We expect continued volatility in 2012 and have prepared for it by investing in new products and technology, expanding our growth market footprint and taking important steps to strengthen risk management."
Shares of GE are off about 1.5 percent Friday.
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